It's a common reaction to slash advertising spending at times like this. You may think reducing your marketing budget is better than layoffs, but unfortunately, cutting advertising can eventually lead to those layoffs as business continues to drop and prospects dwindle.
Sacrificing long-term marketing objectives because of short-term financial struggles is not the way to weather this storm. Those businesses who continue marketing during difficult times come out ahead of the pack when things turn around. Customers have short-term memories... out of sight, out of mind.
Some rock solid suggestions:
• Promote yourself through the web. If you don't already have a website or could use a refresher, now is the time to make it happen. Drive traffic to your site with e-mail marketing, online advertising, blogs & social network advertising.
• Have a website that nobody knows exists? Search Engine Optimization (S.E.O.) is a must to improve your ranking on the main search engines. It's estimated that there are about 1.5 billion people using the internet.
• Direct Mail is an effective way to market to existing customers and to target potential buyers. Attractive postcards with a well-written message get a good response and are less expensive to mail than a letter.
• Now is a great time to add radio to your media mix. You can take advantage of some great rates and with many formats to choose from, you can deliver your message directly to your target audience.
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